World Precision Machinery’s First Quarter Financial Results Show Decline Despite Share Price Increase

World Precision Machinery (SGX:B49) reported its first quarter 2024 financial results, showing a decline in key financial figures compared to the same period in 2023. The company’s revenue was CN¥185.2m, down 34% from the first quarter of 2023, while the net loss was CN¥607.0k, a significant drop from the CN¥11.6m profit recorded in the first quarter of 2023. This resulted in a loss per share of CN¥0.002, down from a profit per share of CN¥0.029 in the first quarter of 2023.

Despite this decline, World Precision Machinery shares have seen an increase of 52% compared to a week ago. However, it’s important for investors to be aware of the warning sign that comes with this recent share price increase. While there may be positive aspects to consider, it’s crucial to evaluate all potential risks and factors that could impact the company’s future performance.

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